Lunar New Year bonus for workers up 15.7 percent

Hanoi (VNA) – The Lunar New Year (Tet) festival bonus is expected to increase 15.7 percent from last year, averaging 5.53 million VND (250 USD) per worker, according to head of the Ministry of Labour, Invalids and Social Affairs’ Labour and Wage Department Tong Thi Minh.

The biggest bonus is 624 million VND (28,300 USD) and the lowest is 40,000 VND (1.8 USD) per person, both figures are from foreign-invested firms, in the northern province of Hai Duong and the southern province of Binh Phuoc, respectively.

The respective figures in Hanoi are 100 million VND (4,500 USD) and 450,000 VND (20.4 USD), which are also recorded in FDI firms.

While in the southern metropolis Ho Chi Minh City, a private company offered the highest bonus valued at 600 million VND (27,200 USD) and a FDI firm granted the lowest 3.09 million VND (140 USD) per person, reported a survey of more than 13,100 enterprises employing 2.4 million workers in 63 cities and provinces nationwide.

As of December 31, 2015, 14 firms in eight cities and provinces owed 16.5 billion VND (750,000 USD) worth of worker salaries. And over 1,700 others are yet to plan Tet bonuses.

The ministry’s statistics showed that worker salaries in 2015 rose slightly compared to the previous year, standing at 5.53 million VND (250 USD) per month, up nearly 8 percent. Salaries in wholly state-owned enterprises were estimated at 7.04 million VND (320 USD) while those in the private and FDI sectors reached 4.99 million VND (226 USD) and 5.47 million VND (248 USD).

The salary increase varies according to different sectors, specifically 6.32 million VND (287 USD) in trade-services, 4.45 million VND (202 USD) in agro-forestry-fisheries and 5.34 million VND (242 USD) in industry-construction.

Due to the global oil price slump, workers in the oil and gas sector earned 3-5 percent less than 2014 despite a 7 percent increase in output.-VNA